Dubai Hosts Global Trade Facilitation Summit 2023

The 2^nd Global Trade Facilitation Summit (GTFS2023), themed “Trade Transformation and Technology”, took place at Dubai Chambers, Dubai, UAE, 13-17 March 2023.

The event provided a unique opportunity for bankers, importers, exporters, lawyers, and other trade professionals to gain insights into trends, developments, legal and technical issues impacting global trade and finance. GTFS2023 was attended by 390 delegates from 37 countries, including 68 nationalities.

Day 1 of the Summit was reserved for internal committee meetings and business networking encounters. The Annual Trade Law & Compliance Conference, organized by ICC UAE in partnership with the Institute of International Banking Law & Practice, Coastline Solutions and the London Institute of Banking and Finance, was held on 14 March. This was followed by two days of intensive plenary sessions and a gala dinner on 16 March. The delegates were then treated to an excursion to the Museum of the Future on the Summit’s final day.

GTFS2023 delivered enterprising strategic solutions for much needed trade and supply chain finance to emerging and developing markets. The Summit was driven by the agendas of Multilateral Development Banks, including the private sector arm of the World Bank (IFC), the Asian Development Bank (ADB), the European Bank for Reconstruction and Development (EBRD) and the Islamic Trade Finance Corporation (ITFC).

Jamal Saleh, Director General of the UAE Banks Federation, focused his remarks on the expanding role of the UAE as a global trade finance hub. Saleh highlighted the value proposition of working with ICC UAE in advancing trade finance practices, tools, and digitalization.

During the event’s Trade Tech Transformation Challenge, China Systems and TradeAssets prevailed as joint winners.

At the event’s grand finale, Vincent O’Brien, Director of ICC UAE, was honoured by the Institute of Chartered Shipbrokers (ICS) when he was conferred with the accolade “Fellow of the Institute of Chartered Shipbrokers”, by ICS President Kevin Shakesheff. “This honour is to recognise the incredible contribution of Vincent to the Shipping and Trade Finance Industry in the Middle East”, Shakesheff said.